Pound Sterling is now boasting 2025 highs against the Euro, with the rate being at its best level since January 2nd, due to inflation surprising markets and showing that the rate at which prices rise is now back up to 3%. This crucially has risen 0.5%, but also more alarmingly has beaten expectations of a meagre 0.3% increase.
The main factor behind this rise was contributed to airfares not dropping as much as they would usually do in the Post-Christmas period, which should be noted is the weakest January dip in airfares since 2020. The sharp increase in prices is also the highest annual rate we have seen since March 2024.
This release is likely to complicate matters for The Bank of England as they are juggling the fight with inflation along with combatting high interest rates.
CLICK HERE to read more.
